Berkley, MI

Average · 99

Michigan · Population 15,084 · Updated March 2026

$1,436
Median Rent / Month
$113,103
Median Income
$289,200
Median Home Value
$1,499
Owner Costs / Month

Affordability

How far your income goes in Berkley

15.2%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Michigan

State-level tax rates that affect your costs

4.25%
Income Tax (Top Rate)
6.0%
Sales Tax
1.38%
Property Tax Rate

Estimated Annual Costs

$17,232
Annual Rent
$4,807
State Income Tax
$3,991
Property Tax (est.)

Cost of Living Overview

Berkley has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 99 (where 100 equals the national median), Berkley residents can expect to pay median rent of $1,436/month while earning a median household income of $113,103/year.

The median home value in Berkley, MI is $289,200, with typical monthly owner costs around $1,499 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.2% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Michigan has a moderate income tax rate of 4.25%. Combined with a 6.0% sales tax rate and 1.38% effective property tax rate, the overall tax environment is a factor in the total cost of living in Berkley.

Frequently Asked Questions

Common questions about living costs in Berkley

What is the cost of living in Berkley, MI?
The cost of living index in Berkley, MI is 99 (US average = 100). Median monthly rent is $1,436, median household income is $113,103/year, and the median home value is $289,200.
Is Berkley, MI affordable?
Yes, Berkley is more affordable than the national average with a cost index of 99. The rent-to-income ratio is 15.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Berkley, MI?
The median gross rent in Berkley, MI is $1,436 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,232.
What is the median household income in Berkley?
The median household income in Berkley, MI is $113,103 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Michigan?
Michigan has a top income tax rate of 4.25%, a sales tax of 6.0%, and an effective property tax rate of 1.38%.